Monday, May 19, 2014

Nifty Intraday Update-III


22 comments:

shreya puneeth said...

sir i am holding yesbank. can u plese tel me the EW count of yesbank

Ilango said...

Nifty bounced close to 7280 and falling. (Strength only above 7280-85)

Sonu said...

Resistance developing at 73CE and 74CE
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/

bb said...

Chetna, your comments on Tata Comm, it has broken out

Chetna Jethi said...

it has broken out,,keep riding

Bharat Kumar said...

@ Chetna - Likely targets for TCom pls!

Chetna Jethi said...

if it stays abo ve 399-98,, we are going for new highs very soon... a series of new highs

NI3 said...

Yes I exited waiting at 462 level
Thanks

Bharat Kumar said...

@ Chetna - Guess you mean " 299" ...?

bb said...

Hi Chetna, I hope you mentioned 299-298.

shreya puneeth said...

Any updates on yesbank?

Chetna Jethi said...

@BB, BHARAT,, ohh yers... numbers sometimes can be so confusing

Bharat Kumar said...

@ Chetna - Thanks! Got me scared for a second! :-)

Ilango said...

@ shreya puneeth,

Yes bank EW count matches almost that of Nifty & BN. It is now in a trading mode in a range of 515-585 initially.

Ilango said...

Prices, after a 5, retraced to 38% to 50% @ 7243-54(@ 7252) and rising..

Ilango said...

Weak below "7252"

anand said...

Sir
- EW possibility of correction remains with B goign on and C to come.
- on EMA / SAR basis and indicators (lead indicator tuning up) , uptrend remains.
This results in trading range...
for positional - EOD is relevant ? or the trading range would force us to sit out to avoid whips...?

Ilango said...

@ anand,

So far the rise from 6131 behaves alike a "B" wave, which must be dealt with "intraday" only.

If someone is holding a position based on EW or any other method, they should continue with their system. Consistency is important.

Our comments have been made on the basis of ST EW observations.

anand said...

Thanks a Lot Sir!

shriram said...

EOD close may re-conquer > DHiEMA ...

strength evidenced from price, but y r the OTM CE writers so cocky ?

anmpatel said...

@Master
hopefully going to close above DHEMA...so will it be new signal as momentum returns..

or

a/c to ST EW..correction continues till below 7477?
thanks.

Ilango said...

@ anmpatel ,

The range, even in a corrective phase is 100 points and it could rise too.

As Shriram has put it, there are mixed signals from various studies suggesting a "cooling off/ corrective phase" which is generally managed with intraday trading or "lying low" to catch a low.

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